Posted by
Ed
15 yrs ago
For all its glitz and glamour, Hong Kong can be an insecure place. Many have long predicted the reason for its wealth – China – will one day be the cause of its obsolescence as cities like Shanghai and Beijing surpass it as centers for international business and finance.
More http://blogs.wsj.com/exchange/2010/12/16/hong-kong-is-dead-long-live-hong-kong/
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Thanks for sharing. ya thats true Hong Kong is loosing its glimps soon.
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I don't think Shanghai, Beijing or any city in mainland China can overtake Hong Kong until there is political and economic freedom equivalent to what Hong Kong has today. Yes, I agree that Hong Kong cannot survive without China, but as long as China's economy is booming and as long as China's government stays communist, Hong Kong will always be number one.
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Look at the trend... Hong kong is on the decline. No one can argue that.
Taking a longer term view....Hong Kong will die. We all know that but we all take a personal view on when to jump ship....
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One of HKG's primary attractions for big corporates is its legal system. And its in a way getting better for them as HKG govt/courts become more 'asian' and less 'western' - less protection for the individual ( as in China) but still plenty protection for the company ( unlike China)
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Boddington, what trend are you referring to? The way I see it is HK is on the rise rivaling cities like NY and London as world cities. The proximity to China (which you cannot argue will be a superpower for the next few decades) combined with the excellent legal system, political system and economic freedom makes HK pretty hard to challenge.
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